Question

A scatterplot was made using the annual CPI rate from 1960 to 2014, and a trend line was added.

What is the independent variable in this model, and what does it represent?

(a) Year
(b) CPI Rate
(c) both a and b
(d) none of the above

Answer 1

In the scatterplot of the annual CPI rate from 1960 to 2014, the independent variable is the Year, and it represents the specific point in time for which the CPI rate is measured.

Step-by-step explanation:

The independent variable in a model that uses a scatterplot to display the annual CPI rate from 1960 to 2014, with a trend line added, is (a) Year. The Year represents the specific point in time for which the CPI (Consumer Price Index) rate is measured and is plotted on the x-axis of the scatterplot. The CPI rate would be the dependent variable and is plotted on the y-axis, as it depends on the year. The CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.